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18 pre-sale consent applications for residential developments pending approval
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     The Lands Department announced today (September 6) that 18 applications for pre-sale consent for uncompleted residential units and four applications for pre-sale consent for uncompleted commercial development were pending approval as at the end of August.

     The 18 applications for pre-sale consent for uncompleted residential units being processed involved a total of 8,401 units. Among them, two developments involving a total of 229 units are estimated to be completed this year, while seven applications involving a total of 3,854 units are estimated to be completed in 2011 and seven applications involving a total of 4,255 units are estimated to be completed in 2012. For the remaining two developments involving a total of 63 units, the estimated completion dates are to be updated by the developers.

     In addition, one application for consent to assign involving 1,360 residential units and one application for consent to assign for commercial development are being processed.

     No pre-sale consent or consent to assign was issued in August.

     Members of the public can obtain up-to-date information on pre-sale consents for uncompleted residential developments issued for the last six months and cases pending approval as at the end of August by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or on the Lands Department website (www.landsd.gov.hk).
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     Intending purchasers are advised to carefully study details of the development and the sale procedures, through information available from public advertisements, sales brochures and price lists released by the developer, before making a deposit for a purchase. The sales brochure for a development (normally including a Chinese version) also contains the main points of the Deed of Mutual Covenant, including the definition of common areas, terms of appointment of manager, the basis of calculating management fees, amounts of any deposits and other relevant details, as well as any special features of the Government land grant, which intending purchasers are recommended to read carefully.

Ends/Monday, September 6, 2010
Issued at HKT 17:02

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